Bitcoin
BTC$68 936.57

-0.14%

Ethereum
ETH$2 464.81

-0.38%

Tether
USDT$0.999490

-0.02%

Binance Coin
BNB$559.05

-1.20%

Solana
SOL$162.90

-0.83%

USD Coin
USDC$1.000091

0%

Altcoins soar, while Bitcoin and Ethereum price stall near key levels


27 May 2021

#Ethereum

Altcoins moved higher, while a lack of buy volume prevented Bitcoin and Ether price from breaking out after the completion of a bullish inverse head and shoulders pattern. On Wednesday, the bullish momentum that had propelled Bitcoin (BTC) and altcoins into a relief rally was somewhat subdued, as traders remain unsure of what may happen next. 

After an early morning attempt by Bitcoin bulls to drive BTC’s price above $40,000 was met with stiff resistance, the digital asset lost momentum and slumped back to the $38,000 support level.

Despite the continued struggle, a few positive signs such as a decline in BTC exchange deposits and an uptrend in addresses accumulating Bitcoin suggest that bears have stopped selling and the worst of the downturn may have passed. Earlier in the day, Ether (ETH) also rallied close to the $3,000 level, but the pullback in BTC price saw the top altcoin fall below $2,800.

Polygon leads the altcoin charge

While a majority of the cryptocurrencies are well below recently established highs, Polygon’s (MATIC) price bucked the trend by seeking out a clear V-shaped recovery. The altcoin rallied higher today as the project announced the launch of its SDK stack that will allow developers to easily deploy their own Ethereum-connected blockchains. Since Tuesday, MATIC has rallied 50% from a low of $1.51 to an intraday high at $2.44 on Wednesday. According to data from Cointelegraph Markets Pro, market conditions for MATIC have been favorable for some time.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity. As seen in the chart above, the VORTECS™ Score for MATIC has been in the green zone for most of the past week, and it registered a high of 94 several times on Tuesday, around seven hours before the price increased 50% over the next day.

Other notable altcoin performances include an 89% gain for Skale Network (SKL) and a 67% rally from Enjin Coin (ENJ). Origin Protocol also gained 53%. The overall cryptocurrency market capitalization now stands at $1.7 trillion, and Bitcoin’s dominance rate is 42.5%.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 79.6% 37 $68 936.57 -0.14% 1.86% $1 363 382 802 810 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 85.6% 19 $2 464.81 -0.38% -1.04% $296 800 010 036 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $0.999490 -0.02% 0.06% $120 515 283 639 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 93.6% 4 $559.05 -1.20% -4.74% $80 558 709 894 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 68.4% 62 $162.90 -0.83% -7.16% $76 693 939 011 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000091 0% 0% $34 896 136 023 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 94.4% 6 $0.506338 -0.34% -1.54% $28 794 766 739 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 62.4% 75 $0.151887 -3.16% 7.10% $22 273 350 128 DOGE 7 days price change
9 TRON (TRX) TRX TRON predictions 92% 3 $0.165000 -0.20% 0.87% $14 264 557 271 TRX 7 days price change
10 Toncoin (TON) TON Toncoin predictions 86.8% 14 $4.85 -0.02% -2.13% $12 331 475 288 TON 7 days price change
11 Cardano (ADA) ADA Cardano predictions 89.6% 9 $0.334545 -3.17% -0.97% $11 707 414 451 ADA 7 days price change
12 Lido stETH (STETH) STETH Lido stETH predictions 94.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
13 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 90.8% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 91.6% 1 $65 806.83 0.78% -2.68% $10 083 957 608 WBTC 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 84.4% 29 $0.000017 -1.58% -0.35% $9 998 232 158 SHIB 7 days price change

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